Parkman Healthcare Partners LLC Trims Stock Position in Schrödinger, Inc. (NASDAQ:SDGR)

Parkman Healthcare Partners LLC lowered its stake in shares of Schrödinger, Inc. (NASDAQ:SDGR - Free Report) by 22.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 559,105 shares of the company's stock after selling 162,268 shares during the quarter. Schrödinger accounts for about 1.3% of Parkman Healthcare Partners LLC's portfolio, making the stock its 24th largest position. Parkman Healthcare Partners LLC owned 0.77% of Schrödinger worth $10,371,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Harbor Capital Advisors Inc. raised its stake in Schrödinger by 5.0% in the third quarter. Harbor Capital Advisors Inc. now owns 13,059 shares of the company's stock valued at $242,000 after buying an additional 622 shares in the last quarter. Louisiana State Employees Retirement System grew its holdings in shares of Schrödinger by 2.6% during the second quarter. Louisiana State Employees Retirement System now owns 27,800 shares of the company's stock worth $538,000 after purchasing an additional 700 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Schrödinger by 49.5% during the second quarter. GAMMA Investing LLC now owns 2,124 shares of the company's stock worth $41,000 after purchasing an additional 703 shares in the last quarter. KBC Group NV lifted its holdings in shares of Schrödinger by 45.4% in the 3rd quarter. KBC Group NV now owns 2,508 shares of the company's stock valued at $47,000 after purchasing an additional 783 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its position in shares of Schrödinger by 145.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,413 shares of the company's stock valued at $27,000 after purchasing an additional 837 shares during the period. 79.05% of the stock is currently owned by hedge funds and other institutional investors.

Schrödinger Stock Up 1.3 %

NASDAQ SDGR traded up $0.28 during trading hours on Wednesday, hitting $22.23. 515,879 shares of the stock were exchanged, compared to its average volume of 758,282. The company has a market cap of $1.62 billion, a price-to-earnings ratio of -9.38 and a beta of 1.56. The stock has a 50-day moving average of $18.97 and a 200 day moving average of $20.13. Schrödinger, Inc. has a 12-month low of $16.67 and a 12-month high of $38.00.

Schrödinger (NASDAQ:SDGR - Get Free Report) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.52) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.40) by ($0.12). The business had revenue of $35.30 million during the quarter, compared to analysts' expectations of $41.25 million. Schrödinger had a negative return on equity of 35.77% and a negative net margin of 91.84%. The company's revenue was down 17.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.86) EPS. On average, equities research analysts expect that Schrödinger, Inc. will post -2.29 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Morgan Stanley reduced their price objective on Schrödinger from $43.00 to $30.00 and set an "equal weight" rating for the company in a research note on Wednesday, August 21st. BMO Capital Markets upped their price target on shares of Schrödinger from $25.00 to $28.00 and gave the company an "outperform" rating in a research report on Wednesday, November 13th. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Schrödinger has an average rating of "Moderate Buy" and an average target price of $32.90.

Insiders Place Their Bets

In other news, insider Margaret Dugan sold 1,531 shares of the business's stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $17.78, for a total transaction of $27,221.18. Following the sale, the insider now owns 13,469 shares of the company's stock, valued at $239,478.82. The trade was a 10.21 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 8.60% of the stock is currently owned by company insiders.

Schrödinger Profile

Schrödinger, Inc, together with its subsidiaries, develops physics-based computational platform that enables discovery of novel molecules for drug development and materials applications. The company operates in two segments, Software and Drug Discovery. The Software segment is focused on licensing its software to transform molecular discovery for life sciences and materials science industries.